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Financial statements

Dine Brands Global, Inc. financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data Dine Brands Global, Inc. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2025FY2024FY2025
Revenue732781910689896909831812812879
Cost of revenue393428527441521532434437437520
Gross profit339353383249375377397375375359
General and administrative166167163145172191198197197204
Interest expense6261.770.275.971.567.674
Interest income1.1
Pre-tax income-428111138-10912211511289.589.525.2
Income tax-85.630.334.1-4.5724.133.714.524.724.78.1
Net income-34380.4104-10497.981.197.264.964.917.1
EPS, basic-18.964.435.95-6.435.694.976.234.224.221.11
EPS, diluted-18.964.375.85-6.435.664.966.224.224.221.11
Shares, basic (weighted)17.717.516.916.216.815.915.214.914.914.3
Shares, diluted (weighted)17.717.817.216.216.915.915.214.914.914.3
Dividend per share3.882.522.760.760.401.992.042.042.041.72

Balance sheet

FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2025FY2024FY2025
Cash and equivalents117137116383361270146187187128
Receivables140138137122120120128115115119
Other current assets12.63.413.916.16.7317.915.82.42.374.1
Total current assets386382347587574480358386386352
Property, plant and equipment200240216188179145162156156161
Lease right-of-use assets0367346335289275324323329
Goodwill339345344252252254254249249250
Intangible assets583586575550539597586576576534
Other non-current assets4.1426.228.39.321017.916.945.320.557.1
Total assets1,7361,7752,0502,0751,9991,8811,7401,7911,7911,738
Accounts payable5543.540.937.45652.136.237.7
Accrued liabilities13.527.5159144166172176178178183
Deferred revenue1110.110.17.687.265.6
Short-term debt132501301001001001000
Total current liabilities305316358349411471460445445366
Long-term debt1,2701,2741,2881,4921,2801,2421,0851,0871,0871,188
Lease liabilities0359345321275269311310305
Other non-current liabilities18.190.115.611.517.119.116.438.715.535
Total liabilities1,9511,9772,2912,4302,2422,1831,9912,0072,0072,012
Total debt1,2831,2991,2881,5051,2801,3421,1851,1871,1871,188
Paid-in capital276238246258256259257255255240
Retained earnings-69.910.461.7-55.635.484.5150184184175
Treasury stock-422-451-550-557-535-645-658-655-655-689
Other comprehensive income-0.11-0.06-0.06-0.06-0.06-0.07-0.06-0.1-0.08-0.1
Shareholders' equity-216-202-242-355-243-301-251-216-216-274
Total equity-216-202-242-355-243-301-251-216-216-274
Total liabilities and equity1,7361,7752,0502,0751,9991,8811,7401,7911,7911,738
Shares outstanding1817.616.516.517.215.615.315.315.312.7

Cash flow statement

FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2025FY2024FY2025
Net income-34380.4104-10497.981.197.264.964.917.1
Depreciation and amortization30.632.242.542.839.93835.639.239.242.9
Stock-based compensation10.810.510.812.511.616.112161613.2
Deferred income tax-136-11.8-5.49-20-2.07-1.1-13.8-6.1-6.1-3.4
Change in receivables-8.433.15-0.4-9.757.3-2.571.9-1.4-0.67-9.6
Change in payables7.21-9.940.586.4613.1-3.67-16-7.11.0314
Cash from operations65.714015596.519689.313110810889
Capital expenditures-13.4-14.3-19.4-10.9-16.8-35.3-37.2-14.1-14.1-35.6
Acquisitions0-20.2000-78.3-0.1-8.5-8.451.6
Cash from investing7.68-14.8-0.1518.73.86-80.9-30.1-8.5-8.45-31.6
Debt issued001,3000010053000600
Debt repaid-3.25-13-1,284-3.25-9.75-38.8-65200-594
Stock issued2.643.931220.525.30.243.8000
Share buybacks-10-33.6-110-29.9-4.19-120-26.1-12.1-12.1-60.7
Dividends paid-69.8-51.1-46.9-23.90-30.8-31.7-31.3-31.3-31
Cash from financing-95.8-88.3-183168-230-109-225-51.7-51.7-104
Net change in cash-22.337.2-27.9284-30.7-100-1244848-46.9
Free cash flow52.412613685.6179549494.194.153.4
Interest paid67.566.166.169.265.264.67479.279.283.7
Income taxes paid59.534.244.711.931.328.128.438.338.315.9

Key metrics

Worked out from the statements above. Latest values use fiscal 2025. Valuation uses the share price of $28.17 on September 25, 2026.

Profitability

MetricValueHow it is calculated
Gross margin40.9%Gross profit / revenue.
Pre-tax margin2.9%Pre-tax income / revenue.
Net margin1.9%Net income / revenue.
FCF margin6.1%Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin10.1%Cash from operations / revenue.
Effective tax rate32.1%Income tax / pre-tax income, when pre-tax income is positive.
Return on assets (ROA)1.0%Net income / average total assets.
Stock-based pay / revenue1.5%Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue4.0%Capital expenditures / revenue.
D&A / revenue4.9%Depreciation and amortization / revenue.

Growth

MetricValueHow it is calculated
Revenue growth, 1y8.2%Revenue vs the same period a year earlier. Only from a positive base.
Gross profit growth, 1y-4.3%Gross profit vs the same period a year earlier. Only from a positive base.
Net income growth, 1y-73.6%Net income vs the same period a year earlier. Only from a positive base.
EPS growth, 1y-73.7%EPS vs the same period a year earlier. Only from a positive base.
Operating cash flow growth, 1y-17.7%Operating cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow growth, 1y-43.2%Free cash flow vs the same period a year earlier. Only from a positive base.
Dividend per share growth, 1y-15.7%Dividend per share vs the same period a year earlier. Only from a positive base.
Total assets growth, 1y-3.0%Total assets vs the same period a year earlier. Only from a positive base.
Share count change, 1y-4.2%Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

MetricValueHow it is calculated
Current ratio0.96xCurrent assets / current liabilities.
Quick ratio0.68x(Cash + short-term investments + receivables) / current liabilities.
Cash ratio0.35x(Cash + short-term investments) / current liabilities.
Debt / assets68.4%Total debt / total assets.
Liabilities / assets115.8%Total liabilities / total assets.
Net debt$1.06BTotal debt - cash - short-term investments. Negative means more cash than debt.
Working capital-$13.8MCurrent assets - current liabilities.
Goodwill and intangibles / assets45.1%(Goodwill + intangible assets) / total assets.
Tangible book value-$1.06BShareholders' equity - goodwill - intangible assets.

Efficiency

MetricValueHow it is calculated
Asset turnover0.50xRevenue / average total assets.
Fixed asset turnover5.55xRevenue / average property, plant and equipment.
Receivables turnover7.51xRevenue / average receivables.
Days sales outstanding49 days365 x average receivables / revenue.
FCF conversion312.3%Free cash flow / net income, when net income is positive.
Capex / operating cash flow40.0%Capital expenditures / cash from operations, when that is positive.

Per share

MetricValueHow it is calculated
EPS, diluted$1.11Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
EPS, basic$1.11Net income per basic share, as reported (split-adjusted).
Revenue per share$61.49Revenue / diluted weighted shares.
FCF per share$3.73Free cash flow / diluted weighted shares.
Operating cash flow per share$6.22Cash from operations / diluted weighted shares.
Book value per share-$21.62Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share-$83.46Tangible book value / shares outstanding.
Cash per share$10.12(Cash + short-term investments) / shares outstanding.
Dividend per share$1.72Dividend declared per common share (paid, when declared is not tagged).
Payout ratio181.3%Dividends paid / net income, when net income is positive.
Dividends / FCF58.1%Dividends paid / free cash flow, when free cash flow is positive.
Buybacks / FCF113.7%Share buybacks / free cash flow, when free cash flow is positive.

Valuation

MetricValueHow it is calculated
Market cap$356.6MShare price x shares outstanding.
Enterprise value$1.42BMarket cap + total debt - cash - short-term investments.
P/E20.9xMarket cap / net income. Only when net income is positive.
P/S0.41xMarket cap / revenue.
P/FCF6.68xMarket cap / free cash flow. Only when free cash flow is positive.
P/OCF4.01xMarket cap / cash from operations, when positive.
EV/Sales1.61xEnterprise value / revenue.
EV/FCF26.5xEnterprise value / free cash flow, when both are positive.
FCF yield15.0%Free cash flow / market cap.
Earnings yield4.8%Net income / market cap (the inverse of P/E).
Dividend yield8.7%Dividends paid over the period / market cap.
Shareholder yield25.7%(Dividends paid + share buybacks) / market cap.
What was Dine Brands Global, Inc.'s revenue in fiscal 2025?

Dine Brands Global, Inc. reported revenue of $879.3M for fiscal 2025, 8.2% higher than the year before.

Was Dine Brands Global, Inc. profitable in fiscal 2025?

Yes. Net income was $17.1M, a net margin of 1.9%.

How much free cash flow did Dine Brands Global, Inc. generate in fiscal 2025?

Cash from operations of $89.0M minus capital expenditures of $35.6M left free cash flow of $53.4M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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